ITC Refund on export sales.

my query is

adjusted turnover meaning ???

for claiming refund ITC.
Replies (4)
Dear all also net itc means

“Adjusted Total turnover” means the turnover (as defined under sub-section (112) of section 2), excluding the value of exempt supplies other than zero-rated supplies.

Net ITC.... means input tax credit availed on inputs and input services during the relevant period.  (“Relevant period” means the period for which the claim has been filed.)

Refund Amount = (Turnover of zero-rated supply of goods + Turnover of zero-rated supply of services) x Net ITC ÷Adjusted Total Turnover

if sales zero july purchase appx 100 ajusted turnover zero
sales only august
0x100/0=0
how do can i claim refund pl advice sir

Please explain this in deeply:

Net ITC means input tax credit availed on inputs and input services during the relevant period.

What Should I Consider from following:-

1.Total ITC on inward of relevent period= Net ITC.

2.Total ITC on inwards-Total Liability on outward supply= Net ITC, or

3.Total Liability of outward supply adjusted against ITC of relevent period= Net ITC.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 14 November 2026
Article Assistant

Jitendra Agarwal & Associates

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
14 November 2026
Manager - Indirect Tax (GST)

Westbridge Consulting LLP

New Delhi

CA

View Details
Company
10 November 2026
Direct Tax Manager

CAAQ CONSULTANCY PVT LTD

New Delhi

CA Final

View Details
Company
13 November 2026
Chartered Accountant - Fresher

Neeraj Bhagat & Co

New Delhi

CA

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
13 November 2026
Accountant

New Mobile India

Muzaffarpur

B.Com

View Details